Partnership

Video-based, it provides insights into how to develop and grow a franchise, the specialist legal franchise agreements involved, the financial backing and banking relations.

Best of all, it’s completely free and can be accessed on any device with an internet connection, either in a single day or in bite-sized chunks.

The Prospect Franchisor Certificate is the sister course to the highly successful Prospect Franchisee course launched in September 2016, which was also created in partnership with Lloyds Banking Group.

This course delivers a comprehensive overview of what it takes to succeed in the UK’s £15 billion franchise sector, where individuals run their own business under an established brand as a franchisee.

Confident

bfa CEO Pip Wilkins is confident the Prospect Franchisor Certificate will be a great help to business owners looking to get involved in franchising for the first time.

She says: “This new online course is designed for existing business owners looking to see if franchising is right for them. It costs nothing, is jargon free and will maximise your chances of building a successful network.

“I invite everyone interested in franchising to take this course, as it will give you a clear understanding of all aspects of making your enterprise franchise ready.

“Even if you’re not ready yet, understanding the opportunities that franchising offers to all successful entrepreneurs is rapidly becoming an essential skill, with franchising playing an ever increasing role in the UK’s business landscape.”

Guidance

Richard Holden, head of franchising at Lloyds Banking Group, says: “Looking to develop your business as a franchise for the first time can be a complicated and confusing process, so clear guidance and professional advice is essential.

“Completing the Prospect Franchisor Certificate will help guide businesses in a free, timely and flexible way.

“We at Lloyds Banking Group encourage the sharing of best practise in the franchise sector and hope the early adoption of this training opportunity by all budding franchisors will support the growth of the ethical business format franchising championed by the bfa.”

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